Who would have thought the famous Moore’s Law on the exponential growth of computing power might also apply to Chief Digital Officers?

Well, perhaps it could.

According to the latest deep research conducted by the CDO Club, the number of Chief Digital Officers in 2013 doubled again in one year—just as it has been doing since 2005—to a total of 500.

And the CDO Club is conservatively projecting that number to double again, to some 1,000 Chief Digital Officers by the end of 2014.

CDO Club founder David Mathison

CDO Club founder David Mathison shared these and other findings as part of his CDO Talent Map 2014 keynote address at the second annual Chief Digital Officer Summit held at the Time Warner Conference Center on April 22–23 in New York City.

Other highlights included the expansion of Chief Digital Officers into new sectors and additional countries, and—for an increasing number of CDOs—a fascinating career trajectory taking them from CDO to CEO and even to Board Directors.

CDOs are still overwhelmingly white, male, and primarily seasoned professionals between the ages of 30 and 49. Their salary range remains in the $250,000 to $750,000 range.

CDOs UK by Sector 2014

Globally, CDOs were predominantly represented in the advertising sector, at 36% (though down from 40% in the previous year). That industry was followed by media at 18%, publishing (13%), nonprofits and municipal (10%), and financial (8%).

CDOs by sector in the U.K. can be seen in the accompanying chart.

The past year also saw new growth in sectors not well represented in the previous year. These growing “long tail” industries include retail, cosmetics, fashion, and food and beverage.

As for geographic representation, while North America still has the most Chief Digital Officers—68%—that percentage is down from 88% in 2013. And significantly, among the 250 new CDO hires in 2013, the majority happened in other parts of the world.

In fact, today Chief Digital Officers can be found literally around the world, in countries such as Argentina, Lebanon, Qatar, Thailand, Turkey, UAE, and Vietnam.

Top 10 CDOs by Country and Per Capita

European Chief Digital Officer hires, in particular, exploded in 2013, and now represent 23% of all global CDOs (up from just 7% in the year before), with hires in countries ranging from Austria to the Czech Republic to Switzerland and more.

CDOs by Raw Numbers and Per Capita 2014

In addition, a total of 6% of all CDOs are located in Asia, 2% in MEA, and 1% in South America.

On a country-by-country basis, CDOs are found most frequently in the U.S., followed in second place by the U.K., Australia and Spain (tied for third place), France and Italy (tied for fourth), and then Germany in fifth place.

Interestingly, though, the rankings change when looked at on a per-capita basis. In this case, the number one country is Finland, followed by Australia, the U.S., Singapore, and then the U.K.

Another CDO on the Rise: The Chief Data Officer

Chief Data Officers Worldwide

For the first time, the CDO Club decided to track an additional critically important and emerging digital title—the Chief Data Officer. The 2014 Talent Map identified 197 people holding that title, and projects that this number will grow to 250 by the end of the year.

Mathison explained to participants in the New York Summit that while that title is new, the position of managing an organization’s data assets is not new—it’s just that in the past that person might have held the mantle of “chief analytics officer,” “chief data scientist,” or other similar title.

The Chief Data Officer-type title was first employed in “digital native” companies like Google, Amazon, Netflix, and Yahoo!—these were the early, fully digital firms that generated mountains of data, which they then needed to analyze to make timely business decisions.

Forbes: “Don’t let a CDO steal the best part of your job”

In 2003, Cathryne Clay Doss of Capital One bank was the first person hired with the actual title of Chief Data Officer. The role expanded rapidly in banking and financial services during and after the 2008 global financial crisis, and could also be found in data-intensive, regulated industries such as insurance, medical, and pharmaceutical.

Today, Chief Data Officers can be found in many more sectors, including Consumer Packaged Goods (CPG), retail, small business, and government.

Particularly government.

For, with the growth of open-data initiatives, an increasing number of municipalities have either hired, or will soon be hiring, Chief Data Officers.

In addition, not only did New York City Mayor Bill de Blasio announce that he would be replacing Haot (she was former Chief Digital Officer for New York City, and is now Chief Digital Officer for New York State), but he promised he would also consider giving the role a budget and headcount—an indication of the importance of the position in his administration.

Mathison said that the CDO Club will continue to track the emergence, characteristics, and trajectory of the Chief Data Officer, just as it has been doing for the Chief Digital Officer.

Chief Digital Officers Taking Their Places as CEOs and Board Members

One finding in the 2014 Talent Map stood out as particularly noteworthy—the ongoing career trajectory of CDO to CEO. In 2013, seven Chief Digital Officers rose to the position of CEOs.

What’s behind this phenomenon?

Mathison told the audience that he did some digging this year to find out. He looked closely at the backgrounds and skill sets of Chief Digital Officers in several key sectors—particularly advertising and media—and discovered that 60% of CDOs in advertising and 30% of those in media already had experience as a CEO, President, GM, or Managing Director.

What this means is that many Chief Digital Officers already have had in-the-trenches experience running companies and also had P&L responsibilities—so they are ready and well positioned to become a CEO.

Both articles raised the same problem: Corporate boards lack the digital leaders they need to help their companies excel in this new environment.

The Harvard Business Review reported that only nine companies—less than 2% of the Fortune 500—have boards that are considered to be “highly digital.”

Similarly, the Telegraph article revealed that only three companies on the FTSE 100 and FTSE 250 have three or more tech-savvy board members.

“This is crazy!” said Mathison.

The reason it’s crazy, Mathison explained to the audience of Chief Digital Officers, is that “there is so much digital talent right here in this room.”

He told them that the CDO Club is dedicated to helping digital executives engage in networking and skill development so they can be identified by corporate boards and named to help fill that digital deficit gap.

Mathison is also committed to helping CDOs outside North America.

On Monday, May 12, 2014, Mathison will deliver the opening keynote at Digital Oxford Week in Oxford, England, where he will reveal, for the first time, statistics on the state of the Chief Digital Officer in the U.K. and and other European countries.

This includes the per-capita figures cited above, as well as a sector analysis and a first look at compensation figures in local markets.

Mathison will also provide many more details about the data collected in the 2014 CDO Talent Map at the inaugural U.K. CDO Summit, which will be held on October 29, 2014, at the BBC in London.

NOTE: The CDO Club is now a membership site. You’ll need to register in order to continue enjoying our posts. To register or for more information, click here.

If you are tasked with understanding what digital leaders must do in order to succeed in almost any industry, the best place to learn more is at the fast-approaching NYC Chief Digital Officer Summit, presented by Capgemini on April 29 2015.

Take advantage of our Super Early Bird Discount for Amsterdam in September 2015, London in October 2015, Sydney in February 2016, and Toronto in July 2016. Reserve your place now:

The CDO Summit is the “must-attend” digital event of the year. The 2013 and 2014 CDO Summits received stellar endorsements from dozens of speakers and attendees alike:

“Sometimes a conference comes along that hits the trifecta – hot topic, high-caliber attendees, and stellar location. The first Chief Digital Officer Summit reached that mark with ease, and I look forward to attending the next one.”

“David, here’s a handy C^3 test for conference value: Did I learn at least three new perspectives? Check. Did I meet at least three interesting people? Check. Did I take back at least three relevant pieces of news I can use? Check. Flying colors for the Chief Digital Officer Summit 2013! Thank you so much, and yes, I’d be very pleased to participate next year!”

Perry Hewitt Chief Digital Officer Harvard University

“Congratulations on an exceptional first CDO Summit. I truly enjoyed all the panel discussions as well as the intimate environment where I was able to meet such amazing people. The conversations were very enlightening and touched on all the challenges my team and I face on a technology, content, and culture front. I look forward to participating next year.”

How did you produce the chart of ‘CDOs by sector in UK’? I’m curious about your source data and what the definition of a CDO is (does it have to be that job title, is it based on scope & seniority etc?)

http://CDOClub.com/ Be The Media

Hi Bill, David Mathison here. I have been tracking global Chief Digital Officers since 2011 and Chief Data Officers since last year. To earn a slot on this particular chart, they need to hold the title of Chief Digital Officer for at least one year for a ‘major’ organization = no mom and pop shops.

We also track people who have similar responsibilities, but who may not have that exact title – although these people are not represented in this chart – the chart is specific to Chief Digital Officers.

I see you are based in London. I am in London preparing for our CDO Summit at the BBC in London on 29 October 2014. I just reached out to you via LinkedIn. I would love to send you the detailed CDO Talent Map and maybe chat or get together to give you more detail. Thanks for your comment.

“The U.K. CDO summit was a very informative and jam packed day. Your team was extremely helpful and welcoming. Social media and the hashtag #CDOSummitUk was very hot that day - great social media engagement by all!”

“Bravo David Mathison and his team for curating such an excellent event at the inaugural U.K. CDO Summit.”

Lisa TelfordHead of Media & Entertainment Practice Odgers Berndtson

"Thank you very much for organizing a great NYC CDO Summit. I thoroughly enjoyed it."

Dr. Didier BonnetSVP & Global Practice LeaderCapgemini Consulting

“Thanks for using the IBM Engagement Center power by IBM Watson and the MutualMind social media analytics platform, at your NYC CDO Summit. With a crowd that size, I have never seen so many social media posts come through in one day! Also, never seen such a well presented and...

"Thanks for putting on such an informative and impressive CDO Summit. It was my first time attending, and will be back next year."

Ken RohmanPrincipal, Chief Digital Officerarcher>malmo

“You did a fine job at the U.K. CDO Summit, David. I like your business model, manner, pace, and approach - it's very likeable"

Thomas PowerNon Executive Board Member

"Thanks for hosting a splendid inaugural U.K. CDO Summit!"

Narry SinghHead of Digital Business Accenture EALA

“Thank to everyone at the NYC CDO Summit for a wonderful discussion on the Big Data panel. And thank you very much David Mathison for having us -- it was a pleasure!”

Haile OwusuChief Data ScientistMashable

“The opportunity to keynote at the inaugural U.K. CDO Summit in London was once in a lifetime experience. As the world’s youngest CDO, I learned valuable lessons from other digital leaders and gained a greater sense of confidence and energy leaving the event.

Gordon ChingChief Digital Officer AIESEC

“Thank you for curating an incredible experience at the NYC CDO Summit!”

Brian ManningPresident & Chief Digital OfficerCentric Digital

"Thanks for curating the NYC CDO Summit. It was a great show. I enjoyed all the keynote speakers and panels."

Joe JohnstonVP Experience Innovation Universal Mind

"I can’t tell you how much I enjoyed the NYC CDO Summit. I met and listened to a talented group of my peers, amazed by their outstanding accomplishments; I got a sense of what they all had in common. Delivering value to consumers and companies’ bottom lines, is ultimately what...

Todd UngerChief Digital OfficerDaily Racing Form

"Huge congratulations on an awesome inaugural U.K. CDO Summit. I cannot believe how much you worked into the programme! The quality was exceptional. In addition to incredible content, I also connected and networked with some great attendees. The CDO summit was an amazing achievement, you should be very proud."

“David Mathison’s expertise regarding data, digital, and the Chief Digital Officer function is unmatched. If you are a business leader who cares about the future of digital and the ever-evolving CDO function, join the revolution and become a part of the CDO Club and Summit.”

Jay RosenzweigCEO Rosenzweig & Company

“Thanks for everything you did to pull off the NYC CDO Summit. It was my first such Summit, and I thoroughly enjoyed the experience.”